A next-generation financial data platform designed for outperformance. With Calcbench analysts can get behind the data.
Cambridge, MA & New York, NY
Joined November 2011
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Calcbench retweeted
More from investmentecosystem.com/2023…
how to sell an asset manager
changes in non-GAAP regulation (@Calcbench)
gender and alpha (@ImpaxAM)
ETF structures (@arrofincomm)
VC platforms (@daleschang)'
George Bernard Shaw on communication
external and internal investment networks
Calcbench retweeted
My new piece w/@Calcbench looks at two of my favorite topics - non-GAAP reporting and SEC comment letters! As predicted by @markgmaurer SEC continues issuing non-GAAP comments.
What types of non-GAAP adjustments raise red flags w/ the SEC? Long-time accounting researcher @ousvyatsky analyzes 1,900 SEC comment letters issued since ‘21 w/ at least one non-GAAP comment, provides the top citations, and shares $LYFT + $MSTR examples.
calcbench.com/blog/post/7262…
Calcbench retweeted
We've all been reading about US Credit Card Debt...but here's a well written article on the impact it's beginning to have on issuers:
H/T @Calcbench
calcbench.tumblr.com/post/72…
Calcbench retweeted
1/2 SEC report to Congress discusses how SEC Division of Enforcement and Corp Fin use machine-readable data to identify areas of non-compliance. @retheauditors @Calcbench sec.gov/files/2023-fdta-repo…
Calcbench retweeted
US Companies Using “Nontraditional” Accounting Metrics To Juice Profits
@Calcbench Study of 200 S&P 500 corps found adjusted net income accounting tricks ⬆️130% from a year ago
Alphabet boosted profits by cutting depreciation costs via theoretically extending server lifespans
Calcbench retweeted
This mornings (5/8) report from Tyson Foods is interesting. Sales flat versus a year ago, but Costs up about 10.5%! Why? They tell you. Page 28 of their MD&A (see comments section below).
@calcbench #earnings #earningsreport $TSN #sales lnkd.in/efSYb8iu
Calcbench retweeted
Something that may be subtle to users, but not to Calcbench is that firms file #earnings (an 8K) and then file a 10Q. #DraftKings filed earnings last evening, post close, and then filed the 10Q this morning pre-open. We process both. #apple did the sa…lnkd.in/ersVWk68
Calcbench retweeted
Another hefty #earnings day on tap with #garmin which reported both their #8K & #10Q this morning (5/3). YoY #sales & #profits down. Look at their segments to learn more. Hint: It's the outdoor business. #worksmarternotharder $GRMN lnkd.in/grYyqFXZ
Calcbench retweeted
In addition to #earnings for all of these firms, you can dig into the details or just summarize some. Here's #mastercard and their profitability under both GAAP and their own #nongaap. #EPS & #netincome $MA lnkd.in/eV5sE5gz
Calcbench retweeted
$KO - the Coca-Cola company reported this morning. We've got the information live on Calcbench. EPS / Net Income up 12.5% YoY. Organic Growth? Up 12%. Last year? Organic Growth up 18%, 2021. Chart below. #earnings #growth #organic lnkd.in/eUjxadG2
Calcbench retweeted
$T from this morning. ARPU. Avg Revenue per User in a time series. lnkd.in/eXdp3GKs
Calcbench retweeted
Fair amount of #earnings data coming in this morning. List of available reports is here: lnkd.in/enKavgu
Abbott Labs (ticker:ABT cashtag $ABT) did report a nongaap reconciliation ~$500 million. Most was Amortization of Intangible Assets. lnkd.in/eSGY4DtF
Calcbench retweeted
J&J reported #earnings this morning. Look at the litigation impact! It's in the #nongaap reconciliation. $6.9B. EPS from -3 cents to $2.68 adjusted. Here's the full reconciliation and delta. #litigation #johnsonandjohnson $JNJ Calcbench lnkd.in/eaXgVZuB
Calcbench retweeted
Today's #earnings filing insight comes from State Street (ticker:STT). Nothing too fancy until you see that they bought back about 18 million shares in Q1 '23. $STT #buyback lnkd.in/ere7jtpe
Calcbench retweeted
Check out the revenue from Principal Transactions for JPM this morning. Here it is, for context Q1 21 and Q1 22 added. $JPM #jpmorgan #earnings lnkd.in/eCqVtiGm
Calcbench retweeted
Arguably, the litigation implications of CAMs are difficult to estimate. I am not sure how often lack of CAMs was tested in a legal setting? The impact of going concern opinion might be easier to understand by looking at post-2008 legal cases. @jeaneaglesham
Bond losses such as those at Silicon Valley Bank could have been raised as “critical audit matters”—a measure designed to help investors decode risks and uncertainties buried in financial statements wsj.com/articles/auditors-di…
Calcbench retweeted
As always, this work is sourced from @Calcbench. Follow our firm for more...
Calcbench retweeted
In response to SEC comments Ani Pharmaceuticals is changing how it calculates Adj EPS to include IPR&D expenses. Last year in my blog with @Calcbench we talked about how SEC non-GAAP guidance affects pharma companies.
Calcbench retweeted
Lyft's earnings release attributes the change to new non-GAAP guidance and consultation with the SEC. We observed a similar pattern with non-GAAP R&D expenses in the pharma industry. @Calcbench @retheauditors
Who's behind the big change to $LYFT's adjusted EBITDA this Q? The SEC and its crackdown on non-GAAP measures.
news.bloombergtax.com/financ…